Filenews 15 May 2025
Cyprus is in 40th place worldwide, up 5 places compared to last year, in the StartupBlink Global Startup Ecosystem Index 2025.
According to an announcement by the Deputy Ministry of Research, Innovation and Digital Policy, Cyprus, "with a growth rate of 28%, emerges for the second consecutive year as the fastest growing startup ecosystem in the European Union".
According to the Report, Cyprus ranks second globally among countries with a population of less than 2 million, and fourth among Southern European countries, while recording a 71% increase in the number of startups compared to 2024.
It is worth noting that Cyprus is the only country with a population of less than 2 million that has four cities - Nicosia, Limassol, Larnaca and Paphos - registered in the global startup index, with all cities recording significant progress in the global ranking.
Particular momentum, as noted, is recorded in specific sectors of activity, with the country ranking 2nd globally in the Gaming sector, 3rd in Fintech in Southern Europe, and 9th in the EU in terms of Blockchain.
This rapid growth is attributed, according to the report, both to the geostrategic position of Cyprus, as well as to the targeted policies and incentives - especially fiscal ones - offered by the Cypriot Government to enhance innovation and entrepreneurship, as well as to attract productive investments and talent.
As reported by the Deputy Ministry, this distinction was officially announced and honored in the context of Reflect Festival 2025, with the awarding of a special plaque by the CEO of StartupBlink, Eli David Rokah, which was received on behalf of the President of the Republic, by the Deputy Minister of Research, Innovation and Digital Policy, Dr. Nikodimos Damianou.
Expressing his satisfaction with the results, the Deputy Minister of Research, Innovation and Digital Policy, Dr. Nikodimos Damianou, noted that they "reflect the commitment and commitment of the Cypriot Government to the continuous strengthening of Cyprus as a hub of innovation, technology and entrepreneurship, at a regional and international level".
After congratulating the entire ecosystem for its achievements, the Deputy Minister stressed that "our goal is to substantially facilitate technology companies and innovative start-ups to grow, cooperate with the local ecosystem and successfully integrate into the global market, creating jobs, and added value for the economy and society of the country".
As he said, through targeted financing tools, support structures, a friendly business environment and a methodical digital transformation program, "we are transforming the country into an attractive destination for investment and business activity, and building a more resilient and competitive economy, based on knowledge and technological development."
CNA
